The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the content of this announcement, and bear individual and joint responsibility for the authenticity, accuracy and completeness of the content.
ā Entrusted financial management trustee: Zhongrong International Trust Co., Ltd. (hereinafter referred to as āZhongrong Trustā), Changan International Trust Co., Ltd. (hereinafter referred to as āChangan Trustā)
ā The amount of entrusted wealth management: purchase of 30 million yuan each of Zhongrong Trust and Changan Trustās wealth management products, a total of 60 million yuan
ā Entrusted wealth management product name: Zhongrong-Yuanrong No. 1 Collective Fund Trust Plan, Changāan TrustĀ·Wenjian Zengli No. 1 Collective Fund Trust Plan
ā Entrusted financial management period: December 28, 2021 to February 26, 2022, 60 days; December 31, 2021 to February 28, 2022, 59 days
ā Review procedures performed: The company used idle self-owned funds to purchase wealth management products this time, which has been reviewed and approved at the 12th meeting of the 4th Board of Directors and the 8th Meeting of the 4th Board of Supervisors[For details, see April 23, 2021 āAnnouncement on the Use of Idle Own Funds to Purchase Wealth Management Productsā disclosed by the company on the website of Shanghai Stock Exchange (Announcement No. 2021-016)]
The company used idle self-owned funds to purchase Changan Trustās 30 million yuan wealth management products and Zhongrong International Trust Co., Ltd.ās 30 million yuan wealth management products on August 5, 2021 and September 28, 2021. (Announcement Nos. 2021-037 and 2021-043 disclosed on the website of the Shanghai Stock Exchange on August 7 and September 29, 2021) As of the date of this announcement, the principal and income of the above wealth management products have all been due and recovered, the specific circumstances as follows:
Without affecting the normal development of the companyās main business and ensuring the companyās operating capital requirements and capital security, the company uses idle self-owned funds to purchase trust wealth management products, improves the efficiency of capital use, increases the companyās revenue, and obtains more for the company and shareholders Return on investment.
In accordance with the principle of separating the functions of decision-making, execution, and supervision, the company establishes and completes the approval and execution procedures for investment in wealth management products to ensure the effective development and standardized operation of investment matters in wealth management products, and to ensure the safety of funds. The specific measures to be taken are as follows:
1. The relevant personnel of the companyās financial department will analyze and track the investment direction and progress of wealth management products in a timely manner, and if they find that there are risks that may affect the companyās fund security, they will take corresponding measures in a timely manner to control investment risks. At the same time, the Finance Department establishes a ledger to manage the purchased wealth management products, establishes and improves accounting accounts, and does a good job of accounting for the use of funds.
2. The companyās audit department, independent directors, and board of supervisors have the right to supervise and inspect the use of funds, and can hire professional institutions to conduct audits when necessary.
3. Implement job separation operations: separation of investment business approval, capital entry and transfer, and trading (purchase, redemption) positions.
4. The funds within the quota can only be used to purchase wealth management products with higher security, better liquidity, and lower risks.
5. In accordance with the relevant regulations of the Shanghai Stock Exchange, the company will disclose the investment in wealth management products and the corresponding profit and loss during the reporting period in the regular report.
After the companyās prudential assessment, this entrusted financial management meets the requirements of internal fund management.
3. The specific situation of this entrusted financial management
(1) The main terms of the entrusted financial management contract
On December 28, 2021, the company signed the āZhongrong-Yuanrong No. 1 Collective Fund Trust Plan Trust Contractā with Zhongrong Trust, and on December 30, 2021, the company signed the āChangan Trust Ā· Wenjian Zengli No. 1ā³ with Changan Trust. Collective Funds Trust Planā, the main contract terms are as follows:
ā
(2) Investment direction of entrusted wealth management funds
Investment direction of Zhongrong-Yuanrong No. 1 collective fund trust plan: The trust products purchased by the company using its own funds this time mainly invest in bank deposits, money market funds, bond funds, exchange and interbank market bonds, and fixed income Products (including but not limited to reverse repurchase of bonds with a maturity of less than 1 year, trust plans or trust beneficiary rights, additional repurchase claims or claims income rights, and other fixed income products recognized by the trustor), etc.
Changan TrustĀ·Wenjian Zengli No. 1 Collective Capital Trust Plan Fund Investment Direction: The trust products purchased with its own funds are used for inter-bank and exchange market bonds (including but not limited to treasury bonds, financial bonds, central bank notes, corporate bonds, Medium-term bonds, short-term financing bonds, etc.), tradable stocks listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange, listed on the National SME Share Transfer System (including stocks, convertible corporate bonds and other securities, and only Limited to selected layers), bond reverse repurchase, interbank deposits, money market funds, bond funds, trust industry protection funds, convertible bonds, index funds, structured asset management plans, other asset management plans (including but not limited to trusts Income rights, fixed-income banking wealth management products, asset management plans initiated by financial institutions such as securities companies, insurance asset management companies, fund special subsidiaries, etc.), and other low-risk, well-liquid short-term financial instruments allowed by laws and regulations to invest . The underlying assets corresponding to the above-mentioned products shall not be non-standardized financial assets and shall not exceed the above-mentioned investment products.
(3) Risk control analysis
The company will maintain close contact with the product issuer. Once unfavorable situations are discovered or judged, the company will promptly take corresponding measures to control investment risks and disclose information in a timely manner in accordance with relevant regulations. The company will conduct day-to-day supervision of the use of funds. The independent directors and board of supervisors of the company have the right to supervise and inspect the use of funds, and may hire professional institutions to conduct audits when necessary.
4. The situation of the entrusted party of entrusted financial management
1. Basic information and financial indicators of the trustee
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2. Description of the relationship
Zhongrong Trust and Changāan Trust have no related relationship with the company, the companyās controlling shareholders and actual controllers in terms of property rights, business, assets, creditorās rights and debts, and personnel.
3. Due diligence of the board of directors
The company has made a corresponding understanding of the basic situation of Zhongrong Trust and Changāan Trust. The details are as follows:
The predecessor of Zhongrong Trust was Harbin International Trust and Investment Company, which was established in 1987. It was re-registered in May 2002 and was approved to change its name to āZhongrong International Trust and Investment Co., Ltd.ā. In July 2007, the company was approved to re-register and obtain a new financial license, and its name was changed to āZhongrong International Trust Co., Ltd.ā. The current registered capital is 12 billion yuan, and it is mainly engaged in various trust businesses. In 2020, Zhongrong Trust will achieve a total operating income of 5.5 billion yuan and a net profit of 1.379 billion yuan. Zhongrong Trustās 2020 industry rating is A.
The predecessor of Changan Trust was Xiāan Trust and Investment Company. It was established with the approval of the Peopleās Bank of China in August 1986. It was a wholly state-owned non-bank financial institution at the beginning of its establishment, with a registered capital of 50 million yuan. In November 2011, the company was restructured and renamed as Changan International Trust Co., Ltd. It is mainly engaged in fund trust business, investment banking business, financial leasing business and other financial businesses. The industry rating for 2020 is B+.
5. Impact on the company
(1) The companyās financial situation in the last year and period is as follows:
Unit: ten thousand yuan
ā
As of September 30, 2021, the companyās monetary capital balance was 261,614,600 yuan, and the subscription amount of trust wealth management products this time was 60 million yuan, accounting for 22.93% of the monetary capital at the end of the most recent period. The trust wealth management products subscribed by the company this time will not have a significant impact on the companyās future main business, financial status, operating results and cash flow.
(2) Impact on the company
The companyās use of idle self-owned funds to purchase wealth management products was implemented under the premise of ensuring daily operations and capital safety, and did not affect the companyās normal production and operation. The company uses idle self-owned funds to purchase wealth management products, which can improve the efficiency of the use of idle self-owned funds, increase the companyās investment income, and seek more investment returns for the companyās shareholders, which is in the interests of the company and all shareholders.
(3) Accounting treatment method
According to the āAccounting Standards for Business Enterprises No. 22-Recognition and Measurement of Financial Instrumentsā, the company lists the purchased wealth management products as ātransactional financial assetsā in the balance sheet, and its interest income is included in the ā Investment incomeā.
Six, risk warning
The trust plans purchased by the company this time do not promise capital preservation and minimum return, and have certain investment risks. In the process of managing, using or disposing of the trust property, the trustee may face various risks, including but not limited to: market risk of the investment target, credit risk, management risk, custodian risk, liquidity risk, investment risk, change of trust period Risks, liquidity risks and other risks arising from force majeure factors.
The company will maintain close contact with the product issuer. Once unfavorable situations are discovered or judged, the company will promptly take corresponding measures to control investment risks and disclose information in a timely manner in accordance with relevant regulations. Investors are kindly requested to pay attention to investment risks.
7. Implementation of decision-making procedures
The company held the twelfth meeting of the fourth board of directors and the eighth meeting of the fourth board of supervisors on April 21, 2021. The meeting reviewed and approved the āProposal on Using Idle Self-owned Funds to Purchase Wealth Management Productsā and agreed to the company (including all Assets and holding subsidiaries) use idle self-owned funds with a maximum amount not exceeding RMB 300 million to purchase wealth management products for investment in wealth management products with higher security, better liquidity, and lower risks (including but not limited to banks, securities , Trusts or other financial institutions issued by financial institutions), the use period does not exceed 12 months, without affecting the normal development of the companyās main business, and ensuring the companyās operating capital needs and capital security (for details, see the companyās (Announcement No. 2021-016 disclosed on the website of the Shanghai Stock Exchange on April 23, 2021).
8. As of the date of this announcement, the company (including its holding subsidiaries) used its own funds to purchase wealth management products in the last twelve months
Unit: ten thousand yuan
ā
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